3rd October 2003
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Neil Grinnall, Chairman of the Grinnall Group is pictured outside Albion Mill in Worcester city centre |
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Worcestershire based developer Neil Grinnall Group has acquired the imposing Albion Mill building fronting Diglis Basin canal in central Worcester's conservation area. With a development value of £12 million, the former home to Worcester Royal Porcelain will be transformed into 66 luxury loft style apartments with prime canalside views. The site is opposite Neil Grinnall's Diglis Road and Bath Road apartment developments, which also occupy the canal frontage.
Chairman of the Group Neil Grinnall commented: "Albion Mill presents us with a tremendous opportunity to showcase our ability to tackle complex urban regeneration projects. Several developers have considered the site since it became derelict four years ago, but no one has had the foresight to see it past the initial planning stages.
"Albion Mill dates back to the 1800s and is one of the area's most important landmarks, representing the long tradition for manufacturing fine porcelain. All throughout the UK there is a huge appetite for investing in residential conversions of historical buildings and I expect we will have built up a strong list of prospective purchasers when we go on sale in 2004. The converted apartments will not only feature original details from the industrial era, but will also boast stunning views of Worcester 's canal basin. It will be the new must have address for the city."
The restoration process for Albion Mill will commence next Spring and is expected to take approximately 18 months to complete. Major selling points for future residents of the scheme will be the one-to-one on site parking and the spectacular open-air courtyard with direct access to the canal towpath. The largest penthouse will be a staggering 1,351 sq ft and its position on the fifth floor of the building will offer commanding views of the cathedral city. It is expected that when this property hits the market next year it will be Worcester 's most expensive apartment to date with an estimated value of £495,000.
Neil Grinnall added: "Converted buildings such as Albion Mill epitomise the reason why people want to live in city centres. In contrast to soulless new buildings which imitate traditional suburban architecture, the refurbishment of this building will provide true loft style dwellings for modern city lifestyles. I am very proud that we are able to reclaim a disused historical building such as this and restore it as a crucial element of Worcester 's canalside regeneration programme."
Albion Mill has already received planning consent from Worcester City Council and the restoration programme will be undertaken in consultation with the local authority's planning and conservation specialists. As well as providing a golden opportunity for local buyers to live in a fine example of Worcester 's industrial heritage, Albion Mill is also likely to entice people residing outside of the area to relocate here.
The Neil Grinnall Group has been responsible for conceptualising Worcester 's city living phenomenon and has built up an extensive portfolio of residential and mixed-use developments in the region. The former Kay's Catalogue building on The Tything in the city's commercial quarter is providing loft style apartments and high profile office suites within the Grade II listed exterior. Launched in July 2003, K1 joined the company's Diglis and Bath Road schemes in leading the way with luxury apartments in Worcester .
Neil Grinnall's flagship scheme is at Hadzor Hall in Droitwich. Set in the grounds of a fine Grade II* Listed Hall, which is being restored as a gentleman's residence with a budget of £2 million, the 54 acre Hadzor Hall scheme also incorporates commercial office space and 36 luxuriously appointed townhouses set in a Georgian courtyard setting.
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Press release by Core Marketing, 0121 643 8151.
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